Taxpayers get £800m from caretaker of closed mortgages

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all of Bradford & Bingley’s retail branches and its savings accounts were transferred to Abbey in 2008.

These were rebranded Santander in January 2010.

The remainder of the business, including the mortgage books of B&B and specialist lending arm Mortgage Express, were nationalised and taken into public ownership by the Government.

B&B is permanently closed to new lending, but continues to provide services to 209,000 mortgage borrowers with 289,000 mortgage accounts.